Bitmain : Artificial intelligence , Asics , (gpu mining killers) ,Ethereum miner and much more!

lightreflections (25)in #cryptocurrency • 6 years ago (edited)

Bitmain makes Acis miners , huge market for profit : almost certainly dominating the mining business.

There were many speculations of Bitmain mining from their manufactured equipment first before putting it out for sale on their website.

Now these huge profits comes from our pockets, pockets of the people who buy their miners. Imagine building a mining rig and once you get your ROI you sell it for what you bought it for. That is what is happening. A 180 day warranty is what these miners come with leaving the mining with a little to no difference than gambling.

Artificial intelligence!

Yes, guess where the money came from? Recently, they came with the monero miner producing a whopphing 220/khs of computing power. Monero is supposed to perform a hardfork making those miners completely useless. Well, Bitmain even took it off from their sites. Some of them sold for upwards of $11000 and of course they have a no refund policy.

So where do regular miners like you and me go? Well we better have $11000 dollars for their used miners next time they come out , and only a 180 day warranty making crypto mining into a complete gamble.

E3 miner

180Mhs @ 800 watts
Price $800
vs
6 Rx 580 ($450 a piece)
$2700+ equipment (mobo etc)

Bitmain do you understand the meaning of the word ,"decentralized"?

Decentralization - decentralization is the process of distributing, dispersing function, power, people, money or things.
Oh and its a damn verb!

Acis miners are supposed to be banned from the initial stages of any crypto , only allowed once the mining difficulty is phenomenally high.

Now @lightrefletions we are not hating but simply pointing out whats not right, Satoshi Nakamoto made bitcoin with the intention of a decentralized community . He also warned us about having too many mining nodes , only 100,000 nodes or less would support decentralization. We have millions and that too in double digits.

Thanks to Bitmain, Ethereum would be switching to POS sooner than expected. Once there is monopoly in crypto it will be the repeat of the same story, all over again.

Bitmain ************.

Oh well.

Salut Light steemers`